{smcl}
{com}{sf}{ul off}{txt}{.-}
      name:  {res}<unnamed>
       {txt}log:  {res}R:\WSV2\TBu_AKe\Spatial_NEW\Wmat_Grid_test\spatial_6_regs_s_grid_1702_vuong.smcl
  {txt}log type:  {res}smcl
 {txt}opened on:  {res}21 Feb 2023, 13:24:54
{txt}
{com}.  
. 
.                         ***************************
.                         * run regression: OLS, fe *
.                         ***************************             
. 
. cd "C:\Users\hy65byfe\Desktop\smerge_0712\Grid_4950"    
{res}C:\Users\hy65byfe\Desktop\smerge_0712\Grid_4950
{txt}
{com}. *cd "R:\WSV2\TBu_AKe\Spatial_NEW\SCB_4950"      
. use spatial_regs_grid_0111_monthly, replace  
{txt}
{com}.                         
.                         
. *preserve
. *spmatrix dir 
. keep if year == 2014 // no changes. otherwise matrices are wrong in previous.   
{txt}(0 observations deleted)

{com}.         
.         
.                         *************************
.                         ***** Single Matrix *****
.                         *************************       
.                 
. 
. ** log and ihs transformations to the untransformed data **
. 
.                 *** outcomes and polar cases (no q indexing needed, only double loop)
. foreach varx of varlist csd L3_sd R_L3_sd H_L3_sd               ccd L3_cd    R_L3_cd H_L3_cd {c -(}
{txt}  2{com}. 
.    gen     log_`varx'=log(1+`varx')
{txt}  3{com}.    gen     ihs_`varx'=`varx'+(`varx'^2+1)^0.5
{txt}  4{com}.    quietly replace ihs_`varx'=log(ihs_`varx')
{txt}  5{com}.  {c )-}
{txt}(1 missing value generated)

{com}.  
.                 *** spatial variables *** 
. forvalues q = 5(5)40 {c -(} 
{txt}  2{com}.         foreach varx of varlist         W`q'_L3_sd O`q'_L3_sd   W`q'_L3_cd O`q'_L3_cd {c -(}
{txt}  3{com}. 
.    gen     log_`varx'=log(1+`varx')
{txt}  4{com}.    gen     ihs_`varx'=`varx'+(`varx'^2+1)^0.5
{txt}  5{com}.    quietly replace ihs_`varx'=log(ihs_`varx')
{txt}  6{com}.         {c )-}
{txt}  7{com}. {c )-}
{txt}
{com}. 
. 
.                         **********************************************
.                         *****                   Regressions                      *****
.                         **********************************************
. 
.                         
.         ***************** Baseline Vertical Regression ****************************
. 
. 
.         reghdfe  log_csd    log_L3_sd   log_R_L3_sd                                     if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell)  residuals(log_V_R`q')
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.95
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8887
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8868
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1910
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7036

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .2914201{col 26}{space 2}  .074004{col 37}{space 1}    3.94{col 46}{space 3}0.000{col 54}{space 4} .1427036{col 67}{space 3} .4401367
{txt}{space 1}log_R_L3_sd {c |}{col 14}{res}{space 2} .1742513{col 26}{space 2} .0613689{col 37}{space 1}    2.84{col 46}{space 3}0.007{col 54}{space 4} .0509258{col 67}{space 3} .2975768
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3544054{col 26}{space 2}  .114904{col 37}{space 1}    3.08{col 46}{space 3}0.003{col 54}{space 4} .1234971{col 67}{space 3} .5853137
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}.         estimates store log_V_R`q'
{txt}
{com}.         gen ll_log_RV = (log_V_R`q')^2
{txt}(411,600 missing values generated)

{com}.         
.         
.         reghdfe  ihs_csd    ihs_L3_sd   ihs_R_L3_sd                                                     if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell)  residuals(ihs_V_R`q')
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.62
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8874
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8856
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1673
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7865

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2814817{col 26}{space 2} .0746465{col 37}{space 1}    3.77{col 46}{space 3}0.000{col 54}{space 4} .1314739{col 67}{space 3} .4314894
{txt}{space 1}ihs_R_L3_sd {c |}{col 14}{res}{space 2} .1588705{col 26}{space 2} .0582911{col 37}{space 1}    2.73{col 46}{space 3}0.009{col 54}{space 4} .0417301{col 67}{space 3} .2760109
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4349039{col 26}{space 2} .1277229{col 37}{space 1}    3.41{col 46}{space 3}0.001{col 54}{space 4} .1782352{col 67}{space 3} .6915726
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}.         estimates store ihs_V_R`q'
{txt}
{com}.         gen ll_ihs_RV = (ihs_V_R`q')^2
{txt}(411,600 missing values generated)

{com}.         
.         estimates table *V*, b(%9.4f) stats(N r2 r2_a F ll) star(0.10 .05 .01) // vertical, column (6) in main tables 
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:log_V_R} {space 1} {center 12:ihs_V_R} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 3}log_L3_sd {c |}{res} {ralign 9:0.2914}{lalign 3:***}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 1}log_R_L3_sd {c |}{res} {ralign 9:0.1743}{lalign 3:***}{txt} {space 1}{res} {ralign 9:}{lalign 3:}{txt} {space 1}
{res}{txt}{space 3}ihs_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.2815}{lalign 3:***}{txt} {space 1}
{res}{txt}{space 1}ihs_R_L3_sd {c |}{res} {ralign 9:}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.1589}{lalign 3:***}{txt} {space 1}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:0.3544}{lalign 3:***}{txt} {space 1}{res} {ralign 9:0.4349}{lalign 3:***}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.8887}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8874}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2_a} {c |}{res} {ralign 9:0.8868}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.8856}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:F} {c |}{res} {ralign 9:11.9546}{lalign 3:}{txt} {space 1}{res} {ralign 9:10.6163}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:ll} {c |}{res} {ralign 9:-4.45e+03}{lalign 3:}{txt} {space 1}{res} {ralign 9:-4.92e+03}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 44:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
.         sum log_V* 

{txt}    Variable {c |}        Obs        Mean    Std. dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 5}log_V_R {c |}{res}      4,200    1.44e-17     .697776  -4.091209   4.021456
{txt}
{com}.         sum ihs_V*

{txt}    Variable {c |}        Obs        Mean    Std. dev.       Min        Max
{hline 13}{c +}{hline 57}
{space 5}ihs_V_R {c |}{res}      4,200   -3.01e-17    .7800307  -4.688497   4.447802
{txt}
{com}.         
.         
.         ******************** Nonnested Alternative **********************************
.         
.                 ** Results for log transformed data **
.         
. *quietly {c -(}
.         
.         
.                         *** Horizontal 
.         
.                 reghdfe  log_csd    log_L3_sd   log_H_L3_sd                                                             if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(log_H)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.70
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8869
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8850
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1782
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7091

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3116736{col 26}{space 2} .0770314{col 37}{space 1}    4.05{col 46}{space 3}0.000{col 54}{space 4} .1568731{col 67}{space 3} .4664741
{txt}{space 1}log_H_L3_sd {c |}{col 14}{res}{space 2} .1183223{col 26}{space 2} .0410063{col 37}{space 1}    2.89{col 46}{space 3}0.006{col 54}{space 4}  .035917{col 67}{space 3} .2007276
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3634763{col 26}{space 2} .1223256{col 37}{space 1}    2.97{col 46}{space 3}0.005{col 54}{space 4} .1176537{col 67}{space 3} .6092988
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}.         estimates store log_H
{txt}
{com}.         gen ll_log_H = (log_H)^2
{txt}(411,600 missing values generated)

{com}.         gen diff_log_H = ll_log_RV - ll_log_H
{txt}(411,600 missing values generated)

{com}.                 
.                 
. 
.                                  *** Northwest quadrant
.                                  
.         forvalues q = 5(5)40 {c -(}
{txt}  2{com}.                 reghdfe  log_csd    log_L3_sd   log_W`q'_L3_sd                                            if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(log_W`q')
{txt}  3{com}.         estimates store log_W`q'
{txt}  4{com}.         gen ll_log_W`q' = (log_W`q')^2
{txt}  5{com}.         gen diff_log_W`q' = ll_log_RV - ll_log_W`q'
{txt}  6{com}.                 
.         {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.64
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8873
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8855
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1814
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7077

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3042409{col 26}{space 2} .0749396{col 37}{space 1}    4.06{col 46}{space 3}0.000{col 54}{space 4}  .153644{col 67}{space 3} .4548377
{txt}log_W5_L3_sd {c |}{col 14}{res}{space 2} .1274627{col 26}{space 2} .0434873{col 37}{space 1}    2.93{col 46}{space 3}0.005{col 54}{space 4} .0400716{col 67}{space 3} .2148537
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3408242{col 26}{space 2} .1236209{col 37}{space 1}    2.76{col 46}{space 3}0.008{col 54}{space 4} .0923987{col 67}{space 3} .5892496
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.86
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8873
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8855
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1815
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7077

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      log_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}log_L3_sd {c |}{col 15}{res}{space 2} .2972608{col 27}{space 2} .0757017{col 38}{space 1}    3.93{col 47}{space 3}0.000{col 55}{space 4} .1451326{col 68}{space 3} .4493891
{txt}log_W10_L3_sd {c |}{col 15}{res}{space 2} .1308015{col 27}{space 2} .0432946{col 38}{space 1}    3.02{col 47}{space 3}0.004{col 55}{space 4} .0437977{col 68}{space 3} .2178053
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .3744188{col 27}{space 2} .1060057{col 38}{space 1}    3.53{col 47}{space 3}0.001{col 55}{space 4} .1613925{col 68}{space 3} .5874452
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.27
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8872
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8853
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1802
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7082

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      log_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}log_L3_sd {c |}{col 15}{res}{space 2} .2972602{col 27}{space 2} .0763125{col 38}{space 1}    3.90{col 47}{space 3}0.000{col 55}{space 4} .1439044{col 68}{space 3} .4506159
{txt}log_W15_L3_sd {c |}{col 15}{res}{space 2} .1255296{col 27}{space 2} .0430067{col 38}{space 1}    2.92{col 47}{space 3}0.005{col 55}{space 4} .0391045{col 68}{space 3} .2119547
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .4020525{col 27}{space 2} .0975596{col 38}{space 1}    4.12{col 47}{space 3}0.000{col 55}{space 4} .2059991{col 68}{space 3} .5981058
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.94
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8882
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8864
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1880
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7049

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      log_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}log_L3_sd {c |}{col 15}{res}{space 2} .2951843{col 27}{space 2} .0748715{col 38}{space 1}    3.94{col 47}{space 3}0.000{col 55}{space 4} .1447244{col 68}{space 3} .4456443
{txt}log_W20_L3_sd {c |}{col 15}{res}{space 2} .1541308{col 27}{space 2} .0523041{col 38}{space 1}    2.95{col 47}{space 3}0.005{col 55}{space 4} .0490218{col 68}{space 3} .2592398
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .3709699{col 27}{space 2} .1039164{col 38}{space 1}    3.57{col 47}{space 3}0.001{col 55}{space 4} .1621422{col 68}{space 3} .5797977
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.99
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8885
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8867
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1901
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7040

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      log_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}log_L3_sd {c |}{col 15}{res}{space 2} .2923138{col 27}{space 2} .0740827{col 38}{space 1}    3.95{col 47}{space 3}0.000{col 55}{space 4}  .143439{col 68}{space 3} .4411886
{txt}log_W25_L3_sd {c |}{col 15}{res}{space 2} .1712325{col 27}{space 2}  .059943{col 38}{space 1}    2.86{col 47}{space 3}0.006{col 55}{space 4} .0507726{col 68}{space 3} .2916924
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .3570923{col 27}{space 2} .1135959{col 38}{space 1}    3.14{col 47}{space 3}0.003{col 55}{space 4} .1288128{col 68}{space 3} .5853718
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.93
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8886
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8867
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1905
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7038

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      log_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}log_L3_sd {c |}{col 15}{res}{space 2} .2917864{col 27}{space 2} .0739863{col 38}{space 1}    3.94{col 47}{space 3}0.000{col 55}{space 4} .1431054{col 68}{space 3} .4404673
{txt}log_W30_L3_sd {c |}{col 15}{res}{space 2} .1732662{col 27}{space 2} .0610861{col 38}{space 1}    2.84{col 47}{space 3}0.007{col 55}{space 4} .0505091{col 68}{space 3} .2960233
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .3551618{col 27}{space 2} .1148335{col 38}{space 1}    3.09{col 47}{space 3}0.003{col 55}{space 4} .1243953{col 68}{space 3} .5859283
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.95
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8887
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8868
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1910
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7036

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      log_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}log_L3_sd {c |}{col 15}{res}{space 2} .2914201{col 27}{space 2}  .074004{col 38}{space 1}    3.94{col 47}{space 3}0.000{col 55}{space 4} .1427036{col 68}{space 3} .4401367
{txt}log_W35_L3_sd {c |}{col 15}{res}{space 2} .1742513{col 27}{space 2} .0613689{col 38}{space 1}    2.84{col 47}{space 3}0.007{col 55}{space 4} .0509258{col 68}{space 3} .2975768
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .3544054{col 27}{space 2}  .114904{col 38}{space 1}    3.08{col 47}{space 3}0.003{col 55}{space 4} .1234971{col 68}{space 3} .5853137
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.95
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8887
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8868
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1910
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7036

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      log_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}log_L3_sd {c |}{col 15}{res}{space 2} .2914201{col 27}{space 2}  .074004{col 38}{space 1}    3.94{col 47}{space 3}0.000{col 55}{space 4} .1427036{col 68}{space 3} .4401367
{txt}log_W40_L3_sd {c |}{col 15}{res}{space 2} .1742513{col 27}{space 2} .0613689{col 38}{space 1}    2.84{col 47}{space 3}0.007{col 55}{space 4} .0509258{col 68}{space 3} .2975768
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .3544054{col 27}{space 2}  .114904{col 38}{space 1}    3.08{col 47}{space 3}0.003{col 55}{space 4} .1234971{col 68}{space 3} .5853137
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)

{com}. 
.                                  *** Northeast quadrant
.                                  
.         forvalues q = 5(5)40 {c -(}
{txt}  2{com}.                 reghdfe  log_csd    log_L3_sd   log_O`q'_L3_sd                                            if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(log_O`q')
{txt}  3{com}.         estimates store log_O`q'
{txt}  4{com}.         gen ll_log_O`q' = (log_O`q')^2
{txt}  5{com}.         gen diff_log_O`q' = ll_log_RV - ll_log_O`q'
{txt}  6{com}.                 
.         {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.94
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8877
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8858
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1840
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7066

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     log_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}log_L3_sd {c |}{col 14}{res}{space 2} .3022181{col 26}{space 2} .0767957{col 37}{space 1}    3.94{col 46}{space 3}0.000{col 54}{space 4} .1478914{col 67}{space 3} .4565448
{txt}log_O5_L3_sd {c |}{col 14}{res}{space 2} .1650947{col 26}{space 2} .0633939{col 37}{space 1}    2.60{col 46}{space 3}0.012{col 54}{space 4} .0376999{col 67}{space 3} .2924895
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .3158603{col 26}{space 2}  .131037{col 37}{space 1}    2.41{col 46}{space 3}0.020{col 54}{space 4} .0525315{col 67}{space 3}  .579189
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.44
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8868
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8849
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1773
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7095

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      log_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}log_L3_sd {c |}{col 15}{res}{space 2} .2976088{col 27}{space 2} .0719785{col 38}{space 1}    4.13{col 47}{space 3}0.000{col 55}{space 4} .1529627{col 68}{space 3}  .442255
{txt}log_O10_L3_sd {c |}{col 15}{res}{space 2} .1315661{col 27}{space 2} .0515606{col 38}{space 1}    2.55{col 47}{space 3}0.014{col 55}{space 4} .0279512{col 68}{space 3}  .235181
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .3924829{col 27}{space 2} .1172113{col 38}{space 1}    3.35{col 47}{space 3}0.002{col 55}{space 4}  .156938{col 68}{space 3} .6280278
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.65
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8862
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8843
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1729
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7114

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      log_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}log_L3_sd {c |}{col 15}{res}{space 2} .2980855{col 27}{space 2} .0742598{col 38}{space 1}    4.01{col 47}{space 3}0.000{col 55}{space 4} .1488549{col 68}{space 3} .4473161
{txt}log_O15_L3_sd {c |}{col 15}{res}{space 2} .1179756{col 27}{space 2}  .046389{col 38}{space 1}    2.54{col 47}{space 3}0.014{col 55}{space 4} .0247535{col 68}{space 3} .2111977
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .4247222{col 27}{space 2} .1036852{col 38}{space 1}    4.10{col 47}{space 3}0.000{col 55}{space 4}  .216359{col 68}{space 3} .6330854
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     12.94
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0000
{txt}{col 51}R-squared{col 67}= {res}    0.8882
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8864
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1880
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7049

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      log_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}log_L3_sd {c |}{col 15}{res}{space 2} .2939106{col 27}{space 2} .0748134{col 38}{space 1}    3.93{col 47}{space 3}0.000{col 55}{space 4} .1435673{col 68}{space 3} .4442538
{txt}log_O20_L3_sd {c |}{col 15}{res}{space 2} .1547824{col 27}{space 2} .0530265{col 38}{space 1}    2.92{col 47}{space 3}0.005{col 55}{space 4} .0482217{col 68}{space 3} .2613431
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .3701538{col 27}{space 2} .1045578{col 38}{space 1}    3.54{col 47}{space 3}0.001{col 55}{space 4}  .160037{col 68}{space 3} .5802706
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.99
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8885
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8867
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1901
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7040

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      log_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}log_L3_sd {c |}{col 15}{res}{space 2} .2923138{col 27}{space 2} .0740827{col 38}{space 1}    3.95{col 47}{space 3}0.000{col 55}{space 4}  .143439{col 68}{space 3} .4411886
{txt}log_O25_L3_sd {c |}{col 15}{res}{space 2} .1712325{col 27}{space 2}  .059943{col 38}{space 1}    2.86{col 47}{space 3}0.006{col 55}{space 4} .0507726{col 68}{space 3} .2916924
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .3570923{col 27}{space 2} .1135959{col 38}{space 1}    3.14{col 47}{space 3}0.003{col 55}{space 4} .1288128{col 68}{space 3} .5853718
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.93
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8886
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8867
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1905
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7038

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      log_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}log_L3_sd {c |}{col 15}{res}{space 2} .2917864{col 27}{space 2} .0739863{col 38}{space 1}    3.94{col 47}{space 3}0.000{col 55}{space 4} .1431054{col 68}{space 3} .4404673
{txt}log_O30_L3_sd {c |}{col 15}{res}{space 2} .1732662{col 27}{space 2} .0610861{col 38}{space 1}    2.84{col 47}{space 3}0.007{col 55}{space 4} .0505091{col 68}{space 3} .2960233
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .3551618{col 27}{space 2} .1148335{col 38}{space 1}    3.09{col 47}{space 3}0.003{col 55}{space 4} .1243953{col 68}{space 3} .5859283
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.95
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8887
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8868
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1910
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7036

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      log_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}log_L3_sd {c |}{col 15}{res}{space 2} .2914201{col 27}{space 2}  .074004{col 38}{space 1}    3.94{col 47}{space 3}0.000{col 55}{space 4} .1427036{col 68}{space 3} .4401367
{txt}log_O35_L3_sd {c |}{col 15}{res}{space 2} .1742513{col 27}{space 2} .0613689{col 38}{space 1}    2.84{col 47}{space 3}0.007{col 55}{space 4} .0509258{col 68}{space 3} .2975768
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .3544054{col 27}{space 2}  .114904{col 38}{space 1}    3.08{col 47}{space 3}0.003{col 55}{space 4} .1234971{col 68}{space 3} .5853137
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.95
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8887
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8868
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1910
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7036

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      log_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}log_L3_sd {c |}{col 15}{res}{space 2} .2914201{col 27}{space 2}  .074004{col 38}{space 1}    3.94{col 47}{space 3}0.000{col 55}{space 4} .1427036{col 68}{space 3} .4401367
{txt}log_O40_L3_sd {c |}{col 15}{res}{space 2} .1742513{col 27}{space 2} .0613689{col 38}{space 1}    2.84{col 47}{space 3}0.007{col 55}{space 4} .0509258{col 68}{space 3} .2975768
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .3544054{col 27}{space 2}  .114904{col 38}{space 1}    3.08{col 47}{space 3}0.003{col 55}{space 4} .1234971{col 68}{space 3} .5853137
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)

{com}. 
. *{c )-}
. 
.                                 *** Constant-only regression 
.                                 
.         reg diff_log_H, vce(cluster cell)

{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res}  .2489

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}  diff_log_H{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0076983{col 26}{space 2}  .011439{col 37}{space 1}   -0.67{col 46}{space 3}0.504{col 54}{space 4}-.0306859{col 67}{space 3} .0152894
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}.         estimates store log_diff_H
{txt}
{com}. 
. forvalues q = 5(5)40 {c -(}
{txt}  2{com}.         
.         reg diff_log_W`q', vce(cluster cell)
{txt}  3{com}.         estimates store log_diff_W`q' // constant significant? test for differences in model fit. (Wooldridge explain the by-hand process)
{txt}  4{com}.         
.         reg diff_log_O`q', vce(cluster cell)
{txt}  5{com}.         estimates store log_diff_O`q'
{txt}  6{com}. {c )-} 

{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .22765

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_W5{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0057525{col 26}{space 2} .0093717{col 37}{space 1}   -0.61{col 46}{space 3}0.542{col 54}{space 4}-.0245856{col 67}{space 3} .0130805
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .27999

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_log_O5{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0041886{col 26}{space 2} .0112379{col 37}{space 1}   -0.37{col 46}{space 3}0.711{col 54}{space 4}-.0267721{col 67}{space 3} .0183949
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .13793

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_log_W10{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0056889{col 26}{space 2} .0067469{col 37}{space 1}   -0.84{col 46}{space 3}0.403{col 54}{space 4}-.0192473{col 67}{space 3} .0078695
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .17861

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_log_O10{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0082168{col 26}{space 2} .0081571{col 37}{space 1}   -1.01{col 46}{space 3}0.319{col 54}{space 4}-.0246091{col 67}{space 3} .0081755
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .12102

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_log_W15{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0064471{col 26}{space 2} .0062024{col 37}{space 1}   -1.04{col 46}{space 3}0.304{col 54}{space 4}-.0189112{col 67}{space 3}  .006017
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .16549

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_log_O15{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0108399{col 26}{space 2} .0086984{col 37}{space 1}   -1.25{col 46}{space 3}0.219{col 54}{space 4}-.0283201{col 67}{space 3} .0066402
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .06689

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_log_W20{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0017932{col 26}{space 2} .0036466{col 37}{space 1}   -0.49{col 46}{space 3}0.625{col 54}{space 4}-.0091214{col 67}{space 3}  .005535
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .06948

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_log_O20{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0018056{col 26}{space 2} .0036635{col 37}{space 1}   -0.49{col 46}{space 3}0.624{col 54}{space 4}-.0091676{col 67}{space 3} .0055564
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .01406

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_log_W25{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2} -.000514{col 26}{space 2} .0006804{col 37}{space 1}   -0.76{col 46}{space 3}0.454{col 54}{space 4}-.0018813{col 67}{space 3} .0008533
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .01406

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_log_O25{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2} -.000514{col 26}{space 2} .0006804{col 37}{space 1}   -0.76{col 46}{space 3}0.454{col 54}{space 4}-.0018813{col 67}{space 3} .0008533
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .01016

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_log_W30{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0002816{col 26}{space 2} .0005449{col 37}{space 1}   -0.52{col 46}{space 3}0.608{col 54}{space 4}-.0013766{col 67}{space 3} .0008133
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .01016

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_log_O30{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0002816{col 26}{space 2} .0005449{col 37}{space 1}   -0.52{col 46}{space 3}0.608{col 54}{space 4}-.0013766{col 67}{space 3} .0008133
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}         .
                                                {txt}Root MSE          =    {res}      0

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_log_W35{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}         .
                                                {txt}Root MSE          =    {res}      0

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_log_O35{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}         .
                                                {txt}Root MSE          =    {res}      0

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_log_W40{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}         .
                                                {txt}Root MSE          =    {res}      0

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_log_O40{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. 
.         
. estimates table  log_diff_H log_diff_W* , b(%9.3f) se(%9.3f) stats(N r2) 
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:Variable} {c |} {center 9:log_dif~H} {space 1} {center 9:log_dif~5} {space 1} {center 9:log_di~10} {space 1} {center 9:log_di~15} {space 1} {center 9:log_di~20} {space 1} {center 9:log_di~25} {space 1} {center 9:log_di~30} {space 1} {center 9:log_di~35} {space 1} {center 9:log_di~40} {space 1}
{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.008}{txt} {space 1}{res} {ralign 9:-0.006}{txt} {space 1}{res} {ralign 9:-0.006}{txt} {space 1}{res} {ralign 9:-0.006}{txt} {space 1}{res} {ralign 9:-0.002}{txt} {space 1}{res} {ralign 9:-0.001}{txt} {space 1}{res} {ralign 9:-0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}
{res}{txt}{space 12} {c |}{res} {ralign 9:0.011}{txt} {space 1}{res} {ralign 9:0.009}{txt} {space 1}{res} {ralign 9:0.007}{txt} {space 1}{res} {ralign 9:0.006}{txt} {space 1}{res} {ralign 9:0.004}{txt} {space 1}{res} {ralign 9:0.001}{txt} {space 1}{res} {ralign 9:0.001}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:.}{txt} {space 1}{res} {ralign 9:.}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 122:Legend: b/se}
{res}{txt}
{com}. estimates table  log_diff_H log_diff_W* , b(%9.3f)                stats(N r2) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:log_diff_H} {space 1} {center 12:log_diff_W5} {space 1} {center 12:log_diff_W10} {space 1} {center 12:log_diff_W15} {space 1} {center 12:log_diff_W20} {space 1} {center 12:log_diff_W25} {space 1} {center 12:log_diff_W30} {space 1} {center 12:log_diff_W35} {space 1} {center 12:log_diff_W40} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.008}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.006}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.006}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.006}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.002}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.001}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:.}{lalign 3:}{txt} {space 1}{res} {ralign 9:.}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 149:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
. estimates table  log_diff_H log_diff_O* , b(%9.3f) se(%9.3f) stats(N r2) 
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:Variable} {c |} {center 9:log_dif~H} {space 1} {center 9:log_dif~5} {space 1} {center 9:log_di~10} {space 1} {center 9:log_di~15} {space 1} {center 9:log_di~20} {space 1} {center 9:log_di~25} {space 1} {center 9:log_di~30} {space 1} {center 9:log_di~35} {space 1} {center 9:log_di~40} {space 1}
{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.008}{txt} {space 1}{res} {ralign 9:-0.004}{txt} {space 1}{res} {ralign 9:-0.008}{txt} {space 1}{res} {ralign 9:-0.011}{txt} {space 1}{res} {ralign 9:-0.002}{txt} {space 1}{res} {ralign 9:-0.001}{txt} {space 1}{res} {ralign 9:-0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}
{res}{txt}{space 12} {c |}{res} {ralign 9:0.011}{txt} {space 1}{res} {ralign 9:0.011}{txt} {space 1}{res} {ralign 9:0.008}{txt} {space 1}{res} {ralign 9:0.009}{txt} {space 1}{res} {ralign 9:0.004}{txt} {space 1}{res} {ralign 9:0.001}{txt} {space 1}{res} {ralign 9:0.001}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:.}{txt} {space 1}{res} {ralign 9:.}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 122:Legend: b/se}
{res}{txt}
{com}. estimates table  log_diff_H log_diff_O* , b(%9.3f)                stats(N r2) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:log_diff_H} {space 1} {center 12:log_diff_O5} {space 1} {center 12:log_diff_O10} {space 1} {center 12:log_diff_O15} {space 1} {center 12:log_diff_O20} {space 1} {center 12:log_diff_O25} {space 1} {center 12:log_diff_O30} {space 1} {center 12:log_diff_O35} {space 1} {center 12:log_diff_O40} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.008}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.004}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.008}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.011}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.002}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.001}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:.}{lalign 3:}{txt} {space 1}{res} {ralign 9:.}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 149:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
.     ** Results for ihs transformed data **
.         
. *quietly {c -(}
. 
.                         *** Horizontal 
.         
.                 reghdfe  ihs_csd    ihs_L3_sd   ihs_H_L3_sd                                                             if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(ihs_H)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      8.66
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0006
{txt}{col 51}R-squared{col 67}= {res}    0.8861
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8842
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1572
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7913

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2}  .296964{col 26}{space 2} .0777931{col 37}{space 1}    3.82{col 46}{space 3}0.000{col 54}{space 4} .1406329{col 67}{space 3} .4532951
{txt}{space 1}ihs_H_L3_sd {c |}{col 14}{res}{space 2} .1089177{col 26}{space 2} .0393986{col 37}{space 1}    2.76{col 46}{space 3}0.008{col 54}{space 4} .0297433{col 67}{space 3} .1880922
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4422511{col 26}{space 2} .1368054{col 37}{space 1}    3.23{col 46}{space 3}0.002{col 54}{space 4} .1673303{col 67}{space 3} .7171718
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}
{com}.         estimates store ihs_H
{txt}
{com}.         gen ll_ihs_H = (ihs_H)^2
{txt}(411,600 missing values generated)

{com}.         gen diff_ihs_H = ll_ihs_RV - ll_ihs_H
{txt}(411,600 missing values generated)

{com}.                 
.                 
. 
.                                  *** Northwest quadrant
.                                  
.         forvalues q = 5(5)40 {c -(}
{txt}  2{com}.                 reghdfe  ihs_csd    ihs_L3_sd   ihs_W`q'_L3_sd                                            if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(ihs_W`q')
{txt}  3{com}.         estimates store ihs_W`q'
{txt}  4{com}.         gen ll_ihs_W`q' = (ihs_W`q')^2
{txt}  5{com}.         gen diff_ihs_W`q' = ll_ihs_RV - ll_ihs_W`q'
{txt}  6{com}.                 
.         {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.40
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8864
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8845
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1596
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7902

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2912747{col 26}{space 2} .0752562{col 37}{space 1}    3.87{col 46}{space 3}0.000{col 54}{space 4} .1400418{col 67}{space 3} .4425076
{txt}ihs_W5_L3_sd {c |}{col 14}{res}{space 2} .1170774{col 26}{space 2} .0407692{col 37}{space 1}    2.87{col 46}{space 3}0.006{col 54}{space 4} .0351487{col 67}{space 3} .1990062
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4170692{col 26}{space 2} .1383193{col 37}{space 1}    3.02{col 46}{space 3}0.004{col 54}{space 4} .1391061{col 67}{space 3} .6950322
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.57
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8864
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8845
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1594
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7903

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      ihs_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}ihs_L3_sd {c |}{col 15}{res}{space 2}  .285944{col 27}{space 2} .0759996{col 38}{space 1}    3.76{col 47}{space 3}0.000{col 55}{space 4} .1332171{col 68}{space 3} .4386709
{txt}ihs_W10_L3_sd {c |}{col 15}{res}{space 2}  .119008{col 27}{space 2} .0404485{col 38}{space 1}    2.94{col 47}{space 3}0.005{col 55}{space 4} .0377236{col 68}{space 3} .2002924
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .4550964{col 27}{space 2} .1180426{col 38}{space 1}    3.86{col 47}{space 3}0.000{col 55}{space 4} .2178809{col 68}{space 3}  .692312
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.90
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8861
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8842
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1575
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7911

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      ihs_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}ihs_L3_sd {c |}{col 15}{res}{space 2} .2862319{col 27}{space 2} .0765172{col 38}{space 1}    3.74{col 47}{space 3}0.000{col 55}{space 4} .1324647{col 68}{space 3}  .439999
{txt}ihs_W15_L3_sd {c |}{col 15}{res}{space 2} .1110955{col 27}{space 2} .0397386{col 38}{space 1}    2.80{col 47}{space 3}0.007{col 55}{space 4} .0312377{col 68}{space 3} .1909533
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .4896095{col 27}{space 2} .1079195{col 38}{space 1}    4.54{col 47}{space 3}0.000{col 55}{space 4} .2727371{col 68}{space 3} .7064818
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.58
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8870
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8851
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1641
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7880

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      ihs_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}ihs_L3_sd {c |}{col 15}{res}{space 2}  .284836{col 27}{space 2}  .075375{col 38}{space 1}    3.78{col 47}{space 3}0.000{col 55}{space 4} .1333643{col 68}{space 3} .4363078
{txt}ihs_W20_L3_sd {c |}{col 15}{res}{space 2} .1377349{col 27}{space 2} .0484431{col 38}{space 1}    2.84{col 47}{space 3}0.006{col 55}{space 4}  .040385{col 68}{space 3} .2350849
{txt}{space 8}_cons {c |}{col 15}{res}{space 2}  .456634{col 27}{space 2} .1139145{col 38}{space 1}    4.01{col 47}{space 3}0.000{col 55}{space 4} .2277142{col 68}{space 3} .6855537
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.65
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8873
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8854
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1664
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7870

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      ihs_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}ihs_L3_sd {c |}{col 15}{res}{space 2} .2823831{col 27}{space 2} .0747403{col 38}{space 1}    3.78{col 47}{space 3}0.000{col 55}{space 4} .1321868{col 68}{space 3} .4325794
{txt}ihs_W25_L3_sd {c |}{col 15}{res}{space 2} .1551511{col 27}{space 2} .0565075{col 38}{space 1}    2.75{col 47}{space 3}0.008{col 55}{space 4} .0415949{col 68}{space 3} .2687072
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .4392147{col 27}{space 2} .1257638{col 38}{space 1}    3.49{col 47}{space 3}0.001{col 55}{space 4}  .186483{col 68}{space 3} .6919465
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.59
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8874
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8855
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1668
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7868

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      ihs_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}ihs_L3_sd {c |}{col 15}{res}{space 2} .2818801{col 27}{space 2} .0746339{col 38}{space 1}    3.78{col 47}{space 3}0.000{col 55}{space 4} .1318976{col 68}{space 3} .4318626
{txt}ihs_W30_L3_sd {c |}{col 15}{res}{space 2} .1575512{col 27}{space 2} .0578616{col 38}{space 1}    2.72{col 47}{space 3}0.009{col 55}{space 4} .0412741{col 68}{space 3} .2738284
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .4363326{col 27}{space 2}  .127483{col 38}{space 1}    3.42{col 47}{space 3}0.001{col 55}{space 4} .1801459{col 68}{space 3} .6925193
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.62
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8874
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8856
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1673
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7865

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      ihs_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}ihs_L3_sd {c |}{col 15}{res}{space 2} .2814817{col 27}{space 2} .0746465{col 38}{space 1}    3.77{col 47}{space 3}0.000{col 55}{space 4} .1314739{col 68}{space 3} .4314894
{txt}ihs_W35_L3_sd {c |}{col 15}{res}{space 2} .1588705{col 27}{space 2} .0582911{col 38}{space 1}    2.73{col 47}{space 3}0.009{col 55}{space 4} .0417301{col 68}{space 3} .2760109
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .4349039{col 27}{space 2} .1277229{col 38}{space 1}    3.41{col 47}{space 3}0.001{col 55}{space 4} .1782352{col 68}{space 3} .6915726
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.62
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8874
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8856
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1673
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7865

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      ihs_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}ihs_L3_sd {c |}{col 15}{res}{space 2} .2814817{col 27}{space 2} .0746465{col 38}{space 1}    3.77{col 47}{space 3}0.000{col 55}{space 4} .1314739{col 68}{space 3} .4314894
{txt}ihs_W40_L3_sd {c |}{col 15}{res}{space 2} .1588705{col 27}{space 2} .0582911{col 38}{space 1}    2.73{col 47}{space 3}0.009{col 55}{space 4} .0417301{col 68}{space 3} .2760109
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .4349039{col 27}{space 2} .1277229{col 38}{space 1}    3.41{col 47}{space 3}0.001{col 55}{space 4} .1782352{col 68}{space 3} .6915726
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)

{com}. 
.                                  *** Northeast quadrant
.                                  
.         forvalues q = 5(5)40 {c -(}
{txt}  2{com}.                 reghdfe  ihs_csd    ihs_L3_sd   ihs_O`q'_L3_sd                                            if cell <= 50 & year == 2014, absorb(cell ccode month) vce(cluster cell) residuals(ihs_O`q')
{txt}  3{com}.         estimates store ihs_O`q'
{txt}  4{com}.         gen ll_ihs_O`q' = (ihs_O`q')^2
{txt}  5{com}.         gen diff_ihs_O`q' = ll_ihs_RV - ll_ihs_O`q'
{txt}  6{com}.                 
.         {c )-}
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.70
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8864
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8845
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1598
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7900

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}     ihs_csd{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 3}ihs_L3_sd {c |}{col 14}{res}{space 2} .2907423{col 26}{space 2} .0769234{col 37}{space 1}    3.78{col 46}{space 3}0.000{col 54}{space 4} .1361589{col 67}{space 3} .4453258
{txt}ihs_O5_L3_sd {c |}{col 14}{res}{space 2} .1477391{col 26}{space 2} .0596879{col 37}{space 1}    2.48{col 46}{space 3}0.017{col 54}{space 4} .0277918{col 67}{space 3} .2676863
{txt}{space 7}_cons {c |}{col 14}{res}{space 2} .4022843{col 26}{space 2} .1427556{col 37}{space 1}    2.82{col 46}{space 3}0.007{col 54}{space 4} .1154062{col 67}{space 3} .6891624
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.30
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0004
{txt}{col 51}R-squared{col 67}= {res}    0.8859
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8839
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1556
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7920

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      ihs_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}ihs_L3_sd {c |}{col 15}{res}{space 2} .2863856{col 27}{space 2} .0728591{col 38}{space 1}    3.93{col 47}{space 3}0.000{col 55}{space 4} .1399697{col 68}{space 3} .4328016
{txt}ihs_O10_L3_sd {c |}{col 15}{res}{space 2} .1183984{col 27}{space 2} .0488296{col 38}{space 1}    2.42{col 47}{space 3}0.019{col 55}{space 4} .0202717{col 68}{space 3} .2165252
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .4773199{col 27}{space 2} .1297996{col 38}{space 1}    3.68{col 47}{space 3}0.001{col 55}{space 4} .2164777{col 68}{space 3}  .738162
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}      9.56
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0003
{txt}{col 51}R-squared{col 67}= {res}    0.8853
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8834
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1516
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7939

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      ihs_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}ihs_L3_sd {c |}{col 15}{res}{space 2}  .286854{col 27}{space 2} .0748123{col 38}{space 1}    3.83{col 47}{space 3}0.000{col 55}{space 4}  .136513{col 68}{space 3}  .437195
{txt}ihs_O15_L3_sd {c |}{col 15}{res}{space 2} .1044258{col 27}{space 2} .0432659{col 38}{space 1}    2.41{col 47}{space 3}0.020{col 55}{space 4} .0174797{col 68}{space 3} .1913719
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .5136516{col 27}{space 2}  .113865{col 38}{space 1}    4.51{col 47}{space 3}0.000{col 55}{space 4} .2848314{col 68}{space 3} .7424718
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     11.55
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8870
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8851
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1641
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7880

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      ihs_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}ihs_L3_sd {c |}{col 15}{res}{space 2} .2837554{col 27}{space 2} .0752304{col 38}{space 1}    3.77{col 47}{space 3}0.000{col 55}{space 4} .1325742{col 68}{space 3} .4349366
{txt}ihs_O20_L3_sd {c |}{col 15}{res}{space 2} .1383457{col 27}{space 2} .0492662{col 38}{space 1}    2.81{col 47}{space 3}0.007{col 55}{space 4} .0393415{col 68}{space 3} .2373498
{txt}{space 8}_cons {c |}{col 15}{res}{space 2}  .455674{col 27}{space 2} .1148705{col 38}{space 1}    3.97{col 47}{space 3}0.000{col 55}{space 4}  .224833{col 68}{space 3}  .686515
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.65
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8873
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8854
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1664
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7870

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      ihs_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}ihs_L3_sd {c |}{col 15}{res}{space 2} .2823831{col 27}{space 2} .0747403{col 38}{space 1}    3.78{col 47}{space 3}0.000{col 55}{space 4} .1321868{col 68}{space 3} .4325794
{txt}ihs_O25_L3_sd {c |}{col 15}{res}{space 2} .1551511{col 27}{space 2} .0565075{col 38}{space 1}    2.75{col 47}{space 3}0.008{col 55}{space 4} .0415949{col 68}{space 3} .2687072
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .4392147{col 27}{space 2} .1257638{col 38}{space 1}    3.49{col 47}{space 3}0.001{col 55}{space 4}  .186483{col 68}{space 3} .6919465
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.59
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0002
{txt}{col 51}R-squared{col 67}= {res}    0.8874
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8855
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1668
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7868

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      ihs_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}ihs_L3_sd {c |}{col 15}{res}{space 2} .2818801{col 27}{space 2} .0746339{col 38}{space 1}    3.78{col 47}{space 3}0.000{col 55}{space 4} .1318976{col 68}{space 3} .4318626
{txt}ihs_O30_L3_sd {c |}{col 15}{res}{space 2} .1575512{col 27}{space 2} .0578616{col 38}{space 1}    2.72{col 47}{space 3}0.009{col 55}{space 4} .0412741{col 68}{space 3} .2738284
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .4363326{col 27}{space 2}  .127483{col 38}{space 1}    3.42{col 47}{space 3}0.001{col 55}{space 4} .1801459{col 68}{space 3} .6925193
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.62
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8874
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8856
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1673
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7865

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      ihs_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}ihs_L3_sd {c |}{col 15}{res}{space 2} .2814817{col 27}{space 2} .0746465{col 38}{space 1}    3.77{col 47}{space 3}0.000{col 55}{space 4} .1314739{col 68}{space 3} .4314894
{txt}ihs_O35_L3_sd {c |}{col 15}{res}{space 2} .1588705{col 27}{space 2} .0582911{col 38}{space 1}    2.73{col 47}{space 3}0.009{col 55}{space 4} .0417301{col 68}{space 3} .2760109
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .4349039{col 27}{space 2} .1277229{col 38}{space 1}    3.41{col 47}{space 3}0.001{col 55}{space 4} .1782352{col 68}{space 3} .6915726
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)
{res}{txt}({browse "http://scorreia.com/research/hdfe.pdf":MWFE estimator} converged in 2 iterations)
{res}
{txt}HDFE Linear regression{col 51}Number of obs{col 67}= {res}     4,200
{txt}Absorbing 3 HDFE groups{col 51}F({res}   2{txt},{res}     49{txt}){col 67}= {res}     10.62
{txt}Statistics robust to heteroskedasticity{col 51}Prob > F{col 67}= {res}    0.0001
{txt}{col 51}R-squared{col 67}= {res}    0.8874
{txt}{col 51}Adj R-squared{col 67}= {res}    0.8856
{txt}{col 51}Within R-sq.{col 67}= {res}    0.1673
{txt}{col 1}Number of clusters ({res}cell{txt}) {col 30}= {res}        50{txt}{col 51}Root MSE{col 67}= {res}    0.7865

{txt}{ralign 79:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 14}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 15}{c |}{col 27}    Robust
{col 1}      ihs_csd{col 15}{c |} Coefficient{col 27}  std. err.{col 39}      t{col 47}   P>|t|{col 55}     [95% con{col 68}f. interval]
{hline 14}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 4}ihs_L3_sd {c |}{col 15}{res}{space 2} .2814817{col 27}{space 2} .0746465{col 38}{space 1}    3.77{col 47}{space 3}0.000{col 55}{space 4} .1314739{col 68}{space 3} .4314894
{txt}ihs_O40_L3_sd {c |}{col 15}{res}{space 2} .1588705{col 27}{space 2} .0582911{col 38}{space 1}    2.73{col 47}{space 3}0.009{col 55}{space 4} .0417301{col 68}{space 3} .2760109
{txt}{space 8}_cons {c |}{col 15}{res}{space 2} .4349039{col 27}{space 2} .1277229{col 38}{space 1}    3.41{col 47}{space 3}0.001{col 55}{space 4} .1782352{col 68}{space 3} .6915726
{txt}{hline 14}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Absorbed degrees of freedom:
{res}{col 1}{text}{hline 13}{c TT}{hline 12}{hline 12}{hline 14}{hline 1}{c TRC}
{col 1}{text} Absorbed FE{col 14}{c |} Categories{col 27} - Redundant{col 39}  = Num. Coefs{col 54}{c |}
{res}{col 1}{text}{hline 13}{c +}{hline 12}{hline 12}{hline 14}{hline 1}{c RT}
{col 1}{text}        cell{col 14}{c |}{space 1}       50{col 27}{space 1}       50{col 39}{result}{space 1}        0{col 53}{text}*{col 54}{c |}
{res}{col 1}{text}       ccode{col 14}{c |}{space 1}        7{col 27}{space 1}        0{col 39}{result}{space 1}        7{col 53}{text} {col 54}{c |}
{res}{col 1}{text}       month{col 14}{c |}{space 1}       12{col 27}{space 1}        1{col 39}{result}{space 1}       11{col 53}{text} {col 54}{c |}
{res}{col 1}{text}{hline 13}{c BT}{hline 12}{hline 12}{hline 14}{hline 1}{c BRC}
* = FE nested within cluster; treated as redundant for DoF computation
{res}{txt}(411,600 missing values generated)
(411,600 missing values generated)

{com}. 
. *{c )-}
. 
.                                 *** Constant-only regression 
.                                 
.         reg diff_ihs_H, vce(cluster cell)

{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res}  .2812

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}  diff_ihs_H{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0073904{col 26}{space 2} .0121935{col 37}{space 1}   -0.61{col 46}{space 3}0.547{col 54}{space 4}-.0318941{col 67}{space 3} .0171134
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}.         estimates store ihs_diff_H
{txt}
{com}. 
. forvalues q = 5(5)40 {c -(}
{txt}  2{com}.         
.         reg diff_ihs_W`q', vce(cluster cell)
{txt}  3{com}.         estimates store ihs_diff_W`q' // constant significant? test for differences in model fit. (Wooldridge explain the by-hand process)
{txt}  4{com}.         
.         reg diff_ihs_O`q', vce(cluster cell)
{txt}  5{com}.         estimates store ihs_diff_O`q'
{txt}  6{com}. {c )-} 

{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .25055

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_W5{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0056402{col 26}{space 2} .0105166{col 37}{space 1}   -0.54{col 46}{space 3}0.594{col 54}{space 4}-.0267741{col 67}{space 3} .0154937
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .31544

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1} diff_ihs_O5{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0054716{col 26}{space 2} .0124952{col 37}{space 1}   -0.44{col 46}{space 3}0.663{col 54}{space 4}-.0305817{col 67}{space 3} .0196385
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .15221

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_ihs_W10{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0057842{col 26}{space 2} .0072687{col 37}{space 1}   -0.80{col 46}{space 3}0.430{col 54}{space 4}-.0203912{col 67}{space 3} .0088228
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .19271

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_ihs_O10{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0085697{col 26}{space 2} .0084546{col 37}{space 1}   -1.01{col 46}{space 3}0.316{col 54}{space 4}-.0255598{col 67}{space 3} .0084204
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .13854

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_ihs_W15{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0071626{col 26}{space 2} .0069184{col 37}{space 1}   -1.04{col 46}{space 3}0.306{col 54}{space 4}-.0210657{col 67}{space 3} .0067405
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .18284

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_ihs_O15{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0114847{col 26}{space 2} .0092985{col 37}{space 1}   -1.24{col 46}{space 3}0.223{col 54}{space 4}-.0301707{col 67}{space 3} .0072012
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .07825

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_ihs_W20{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0023396{col 26}{space 2} .0041991{col 37}{space 1}   -0.56{col 46}{space 3}0.580{col 54}{space 4} -.010778{col 67}{space 3} .0060989
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .08186

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_ihs_O20{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0023604{col 26}{space 2} .0042022{col 37}{space 1}   -0.56{col 46}{space 3}0.577{col 54}{space 4} -.010805{col 67}{space 3} .0060843
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .01872

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_ihs_W25{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0007054{col 26}{space 2} .0009241{col 37}{space 1}   -0.76{col 46}{space 3}0.449{col 54}{space 4}-.0025625{col 67}{space 3} .0011517
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .01872

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_ihs_O25{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0007054{col 26}{space 2} .0009241{col 37}{space 1}   -0.76{col 46}{space 3}0.449{col 54}{space 4}-.0025625{col 67}{space 3} .0011517
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .01364

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_ihs_W30{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0003934{col 26}{space 2}  .000745{col 37}{space 1}   -0.53{col 46}{space 3}0.600{col 54}{space 4}-.0018906{col 67}{space 3} .0011038
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}    0.0000
                                                {txt}Root MSE          =    {res} .01364

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_ihs_O30{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}-.0003934{col 26}{space 2}  .000745{col 37}{space 1}   -0.53{col 46}{space 3}0.600{col 54}{space 4}-.0018906{col 67}{space 3} .0011038
{txt}{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}         .
                                                {txt}Root MSE          =    {res}      0

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_ihs_W35{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}         .
                                                {txt}Root MSE          =    {res}      0

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_ihs_O35{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}         .
                                                {txt}Root MSE          =    {res}      0

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_ihs_W40{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}
{txt}Linear regression                               Number of obs     = {res}     4,200
                                                {txt}F(0, 49)          =  {res}     0.00
                                                {txt}Prob > F          = {res}         .
                                                {txt}R-squared         = {res}         .
                                                {txt}Root MSE          =    {res}      0

{txt}{ralign 78:(Std. err. adjusted for {res:50} clusters in {res:cell})}
{hline 13}{c TT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{col 14}{c |}{col 26}    Robust
{col 1}diff_ihs_O40{col 14}{c |} Coefficient{col 26}  std. err.{col 38}      t{col 46}   P>|t|{col 54}     [95% con{col 67}f. interval]
{hline 13}{c +}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{space 7}_cons {c |}{col 14}{res}{space 2}        0{col 26}{txt}  (omitted)
{hline 13}{c BT}{hline 11}{hline 11}{hline 9}{hline 8}{hline 13}{hline 12}
{res}{txt}
{com}. 
.         
. estimates table  ihs_diff_H ihs_diff_W* , b(%9.3f) se(%9.3f) stats(N r2) 
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:Variable} {c |} {center 9:ihs_dif~H} {space 1} {center 9:ihs_dif~5} {space 1} {center 9:ihs_di~10} {space 1} {center 9:ihs_di~15} {space 1} {center 9:ihs_di~20} {space 1} {center 9:ihs_di~25} {space 1} {center 9:ihs_di~30} {space 1} {center 9:ihs_di~35} {space 1} {center 9:ihs_di~40} {space 1}
{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.007}{txt} {space 1}{res} {ralign 9:-0.006}{txt} {space 1}{res} {ralign 9:-0.006}{txt} {space 1}{res} {ralign 9:-0.007}{txt} {space 1}{res} {ralign 9:-0.002}{txt} {space 1}{res} {ralign 9:-0.001}{txt} {space 1}{res} {ralign 9:-0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}
{res}{txt}{space 12} {c |}{res} {ralign 9:0.012}{txt} {space 1}{res} {ralign 9:0.011}{txt} {space 1}{res} {ralign 9:0.007}{txt} {space 1}{res} {ralign 9:0.007}{txt} {space 1}{res} {ralign 9:0.004}{txt} {space 1}{res} {ralign 9:0.001}{txt} {space 1}{res} {ralign 9:0.001}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:.}{txt} {space 1}{res} {ralign 9:.}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 122:Legend: b/se}
{res}{txt}
{com}. estimates table  ihs_diff_H ihs_diff_W* , b(%9.3f)                stats(N r2) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:ihs_diff_H} {space 1} {center 12:ihs_diff_W5} {space 1} {center 12:ihs_diff_W10} {space 1} {center 12:ihs_diff_W15} {space 1} {center 12:ihs_diff_W20} {space 1} {center 12:ihs_diff_W25} {space 1} {center 12:ihs_diff_W30} {space 1} {center 12:ihs_diff_W35} {space 1} {center 12:ihs_diff_W40} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.007}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.006}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.006}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.007}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.002}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.001}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:.}{lalign 3:}{txt} {space 1}{res} {ralign 9:.}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 149:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}. 
. estimates table  ihs_diff_H ihs_diff_O* , b(%9.3f) se(%9.3f) stats(N r2) 
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:Variable} {c |} {center 9:ihs_dif~H} {space 1} {center 9:ihs_dif~5} {space 1} {center 9:ihs_di~10} {space 1} {center 9:ihs_di~15} {space 1} {center 9:ihs_di~20} {space 1} {center 9:ihs_di~25} {space 1} {center 9:ihs_di~30} {space 1} {center 9:ihs_di~35} {space 1} {center 9:ihs_di~40} {space 1}
{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.007}{txt} {space 1}{res} {ralign 9:-0.005}{txt} {space 1}{res} {ralign 9:-0.009}{txt} {space 1}{res} {ralign 9:-0.011}{txt} {space 1}{res} {ralign 9:-0.002}{txt} {space 1}{res} {ralign 9:-0.001}{txt} {space 1}{res} {ralign 9:-0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}
{res}{txt}{space 12} {c |}{res} {ralign 9:0.012}{txt} {space 1}{res} {ralign 9:0.012}{txt} {space 1}{res} {ralign 9:0.008}{txt} {space 1}{res} {ralign 9:0.009}{txt} {space 1}{res} {ralign 9:0.004}{txt} {space 1}{res} {ralign 9:0.001}{txt} {space 1}{res} {ralign 9:0.001}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}{res} {ralign 9:4200}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:0.000}{txt} {space 1}{res} {ralign 9:.}{txt} {space 1}{res} {ralign 9:.}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}{c -}{hline 9}{c -}{c -}
{ralign 122:Legend: b/se}
{res}{txt}
{com}. estimates table  ihs_diff_H ihs_diff_O* , b(%9.3f)                stats(N r2) star(0.10 .05 .01)
{res}
{txt}{hline 12}{c -}{c TT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:Variable} {c |} {center 12:ihs_diff_H} {space 1} {center 12:ihs_diff_O5} {space 1} {center 12:ihs_diff_O10} {space 1} {center 12:ihs_diff_O15} {space 1} {center 12:ihs_diff_O20} {space 1} {center 12:ihs_diff_O25} {space 1} {center 12:ihs_diff_O30} {space 1} {center 12:ihs_diff_O35} {space 1} {center 12:ihs_diff_O40} {space 1}
{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{res}{txt}{space 7}_cons {c |}{res} {ralign 9:-0.007}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.005}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.009}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.011}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.002}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.001}{lalign 3:}{txt} {space 1}{res} {ralign 9:-0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c +}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 12:N} {c |}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}{res} {ralign 9:4200}{lalign 3:}{txt} {space 1}
{res}{txt}{ralign 12:r2} {c |}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:0.000}{lalign 3:}{txt} {space 1}{res} {ralign 9:.}{lalign 3:}{txt} {space 1}{res} {ralign 9:.}{lalign 3:}{txt} {space 1}
{res}{txt}{hline 12}{c -}{c BT}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}{c -}{hline 12}{c -}{c -}
{ralign 149:Legend: * p<.1; ** p<.05; *** p<.01}
{res}{txt}
{com}.         
. capture log close 
{smcl}
{com}{sf}{ul off}